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BOK Financial Mortgage Group Accepting HARP 2.0 Applications

""BOK Financial Mortgage Group"":http://www.bokf.com announced Thursday that it is now accepting applications for the recently extended and expanded Home Affordable Refinance Program (HARP).

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The program applies to homeowners who currently have a ""Freddie Mac"":http://www.freddiemac.com or ""Fannie Mae"":http://www.fanniemae.com mortgage and who meet certain other eligibility criteria. HARP 2.0 is designed to help borrowers, including those who owe more than their home's value, to take advantage of low interest rates and other refinancing benefits.

BOK Financial Mortgage Group is headquartered in Tulsa, Oklahoma, and operates throughout the states of Arizona, Arkansas, Colorado, Kansas, Missouri, New Mexico, Oklahoma, and Texas.

""Launching this program means BOK Financial Mortgage Group is going to help more homeowners stay in their homes, and that's good for families, communities and our entire economy,"" said Ben Cowen, president of BOK Financial Mortgage Group.

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Cowen notes than many homeowners, who owe more on their mortgage than their house is worth, will benefit from HARP because it's the only program available that allows them to refinance. Now these homeowners can refinance at today's historically low interest rates regardless of their home's value, Cowen said.

""When homeowners are able to refinance, not only do they lower their monthly mortgage payments, but also they can reduce the total amount they owe on their home since they won't pay as much in interest over the long term,"" Cowen said. ""This could mean significant improvements in a family's financial outlook, and I'm proud we'll be able to offer that to our customers.""

The GSEs regulator, the ""Federal Housing Finance Agency"":http://www.fhfa.gov (FHFA) first introduced the HARP program in 2009. These latest changes, deemed HARP 2.0, go into effect December 1, 2011.

HARP rules dictate that BOK Financial Mortgage Group, along with all other mortgage lenders, can only refinance existing customers through this program, until March 2012. After that time, any homeowner interested in refinancing can apply with any lender.

""While we'll be focusing our efforts on assisting current customers with HARP refinancing through March due to the program's rules, we are always willing to talk to customers of other lenders about the program,"" Cowen said. ""Our lenders are very knowledgeable about the process and the qualifications, and we are happy to provide any information to help homeowners make the best decisions for their future.""

The HARP program is available through December 31, 2013.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.
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